Webster Financial Corporation (NYSE:WBS) Given Consensus Recommendation of “Hold” by Brokerages

Webster Financial Corporation (NYSE:WBS) has been given an average recommendation of “Hold” by the sixteen brokerages that are presently covering the company, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $74.3571.

WBS has been the subject of a number of research reports. Morgan Stanley dropped their price target on Webster Financial from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Thursday, February 5th. UBS Group cut Webster Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $77.00 to $75.00 in a report on Thursday, February 5th. Barclays set a $75.00 target price on Webster Financial in a research report on Wednesday, February 4th. Citigroup cut Webster Financial from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a report on Friday, February 13th. Finally, JPMorgan Chase & Co. upped their price objective on Webster Financial from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th.

Webster Financial Stock Up 1.3%

WBS stock opened at $72.07 on Wednesday. The firm has a 50-day moving average price of $66.13 and a 200-day moving average price of $61.40. Webster Financial has a 12 month low of $39.43 and a 12 month high of $73.87. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $11.62 billion, a P/E ratio of 12.19 and a beta of 1.07.

Webster Financial (NYSE:WBS) last released its quarterly earnings data on Friday, January 23rd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.07. Webster Financial had a net margin of 22.67% and a return on equity of 11.10%. The business had revenue of $760.48 million during the quarter, compared to analysts’ expectations of $731.95 million. During the same period in the prior year, the company earned $1.43 EPS. As a group, equities research analysts anticipate that Webster Financial will post 5.88 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Monday, February 9th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.2%. The ex-dividend date is Monday, February 9th. Webster Financial’s dividend payout ratio is 27.07%.

Institutional Trading of Webster Financial

Several institutional investors have recently modified their holdings of WBS. BOKF NA acquired a new position in Webster Financial during the 3rd quarter worth about $26,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Webster Financial in the fourth quarter valued at about $28,000. Root Financial Partners LLC bought a new position in shares of Webster Financial during the third quarter worth about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Webster Financial in the third quarter worth approximately $29,000. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of Webster Financial in the fourth quarter worth approximately $31,000. Institutional investors own 85.58% of the company’s stock.

Webster Financial Company Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.